British internet security start-up backed by ex-Thai PM Thaksin seeks $1bn valuation

[rooster59]

British internet security start-up backed by ex-Manchester City owner Thaksin seeks $1bn valuation

A British internet security start-up backed by the exiled former Thai prime minister Thaksin Shinawatra is poised to seek new funding that would value the company at more than $1bn as it prepares to rollout its infrastructure for the first time.

Scentrics, whose shareholders also include the Vitol oil tycoon Ian Taylor, claims its encryption technology will allow telecoms operators to secure messages and online shopping while complying with police and intelligence demands for access.

It is understood that the company has signed its first commercial deal with a major operator in Singapore, as part of a government digital strategy dubbed Smart Nation. The massive Singaporean sovereign wealth fund Temasak is also lining up an investment in Scentrics, according to City sources.

Full story: http://www.telegraph.co.uk/business/2016/06/11/british-internet-security-start-up-backed-by-ex-manchester-city/

The Telegraph 2016-06-12

[Eligius]

What a complete misnomer - 'security' indeed! A 'secure' internet service - but one which will give access to the police, government and other authorities! Of course Thaksin is not going to push for TOTAL privacy of our e-mails - as his political parties (while at least supporting the vital rudiments and fundamentals of democracy) are just as keen to keep tabs on what opponents and dissidents are saying as is another authoritarian regime which needs not to be named. This, of course, is a world-wide problem, powerfully predicted by George Orwell: 'privacy' is almost a forgotten concept in the world today, where Authorities can and do snoop on almost everything the citizens do. It should be the other way round: that WE keep a constant watch over those power-abusing criminals! The first step towards that is a robust democracy - but that is just the first step. Constant vigilance of criminals (in and out of government) is the price of our (hugely threatened) freedom.

[shirtless]

Its ok just make sure Thaksin only owns 49% , like westerners in Thailand,

[Morch]

More details here, doesn't mention Thaksin though (seems there are many investors/shareholders):

Interview: Professor Anthony Finkelstein and Paran Chandrasekaran - world-changing success story clicks for pioneers of messaging security

http://www.standard.co.uk/business/markets/interview-professor-anthony-finkelstein-and-paran-chandrasekaran-world-changing-success-story-clicks-9772581.html

Edited June 12, 2016 by Morch

[useronthenet]

Use PGP, seems to do the trick from keeping info from prying eyes.

[halloween]

It seems Thaksin is only a bit player, highlighted for local flavour. I can only hope the major stake-holders treat him with the same courtesy and respect he has shown minority investors in his own ventures.

[GuestHouse]

This is going to be a scalp hackers will be climbing over each other to take.

I give it 6 months before it's been cracked.

[tukkytuktuk]

Vitol oil tycoon Ian Taylor now he's got some history, helped bring down the Lybian dictator Gaddaffi. He's also a keen football supporter, wonder if he and Thaksin have their greedy, beady eyes on Thailand's pies? The truth is stranger than fiction. Vitol oil is in the top 10 richest companies on the Earth, it certainly makes you think this article by the Daily Telegraph.

A checkered history :- http://nationalcollective.com/2013/04/07/dirty-money-the-tory-millionaire-bankrolling-better-together/

Edited June 12, 2016 by tukkytuktuk

[exbikey]

Could someone please remind me why the English FA requested that our hero relinquish his ownership of Man City?

[Oxx]

$1bn? Laughable.

(1) Few people actually care about encryption - they don't have anything to hide.

(2) HTTPS provides pretty decent encryption. OK, the powers-that-be can allegedly break it, but your average criminal can't.

(3) HTTPS is free. Who'd pay for something that may (or may not) be marginally better?

(4) And if it's better, then an open source (and free) equivalent will be along pretty soon.

[bendejo]

its encryption technology will allow telecoms operators to secure messages and online shopping while complying with police and intelligence demands for access

So, it'll keep your communications secret. Unless law enforcement wants to see it, then they'll give 'em what they want.

[Mook23]

Secret not secret... Same same but different

[SOTIRIOS]

...too close for comfort....

..wonder why this fugitive is not arrested...

..clearly they know his comings and goings...

...'good relations between England and Thailand for 200 years'...so why not have him arrested...or assets seized...or something...???

...come to Singapore...next door...internet security....???

...insane....

...the implications should be obvious ....

[Snig27]

It seems Thaksin is only a bit player, highlighted for local flavour. I can only hope the major stake-holders treat him with the same courtesy and respect he has shown minority investors in his own ventures.

Highlighted for local flavour by The Telegraph? I don't think so.

[MZurf]

...too close for comfort....

..wonder why this fugitive is not arrested...

..clearly they know his comings and goings...

...'good relations between England and Thailand for 200 years'...so why not have him arrested...or assets seized...or something...???

...come to Singapore...next door...internet security....???

...insane....

...the implications should be obvious ....

" ..wonder why this fugitive is not arrested...

..clearly they know his comings and goings..."

Because the last thing the junta wants is for Thaksin to return to Thailand.

[Scouse Twoccer]

Its ok just make sure Thaksin only owns 49% , like westerners in Thailand,

Why? The law is different in the UK, why should anyone be restricted to 49%?

[ChrisY1]

Headlines such as these must make the junta oafs seeth!........if, of course, they were to read them....

Edited June 12, 2016 by ChrisY1

[Winniedapu]

...too close for comfort....

..wonder why this fugitive is not arrested...

..clearly they know his comings and goings...

...'good relations between England and Thailand for 200 years'...so why not have him arrested...or assets seized...or something...???

...come to Singapore...next door...internet security....???

...insane....

...the implications should be obvious ....

Got to be a reason why no country is interested in arresting Thaksin following a conviction by a Thai court.

I wonder what it could be...

Winnie

[chainarong]

One more important fact here is the fact that Temasek holdings (not Temasak ) is involved, this is owned by the Singapore Government , and this is the same company that Thaksin sold his Shin Corp to for a billion USD and paid no tax on the sale , which ( for those who weren't here in 05 ) is what brought him undone , along with other things like family shares and land deals, and just to throw more fuel on the fire, whatever did happen to that UN investigation into human rights abuse by Thaksin.................................................. .

[Khun Han]

Could someone please remind me why the English FA requested that our hero relinquish his ownership of Man City?

Did they? I thought he sold up because he was strapped for ready cash and was offered £210 million by Sheikh Mansour for his £81.6 million investment.

[Chris Lawrence]

Yes, but are they packaging it so the General can understand. Up there with those detection machines the Army got for the airports a few years back. Great bloke this Thaksin guy, or one born every minute; you take your pick.

[Oxx]

One more important fact here is the fact that Temasek holdings (not Temasak ) is involved, this is owned by the Singapore Government , and this is the same company that Thaksin sold his Shin Corp to for a billion USD and paid no tax on the sale , which ( for those who weren't here in 05 ) is what brought him undone , along with other things like family shares and land deals, and just to throw more fuel on the fire, whatever did happen to that UN investigation into human rights abuse by Thaksin.................................................. .

Oh, so close. The sale was on 23 January 2006 (not 2005), and the amount was roughly US$1.88 billion (not a single billion). And the sale wasn't to Temasek Holdings, but to two nominee companies, Cedar Holdings and Aspen Holdings.

[Aussie69]

They should name this security system Oxymoron

[Wilsonandson]

More details here, doesn't mention Thaksin though (seems there are many investors/shareholders):

Interview: Professor Anthony Finkelstein and Paran Chandrasekaran - world-changing success story clicks for pioneers of messaging security

http://www.standard.co.uk/business/markets/interview-professor-anthony-finkelstein-and-paran-chandrasekaran-world-changing-success-story-clicks-9772581.html

A little research and you'll find Thaksin and Ian Taylor are business partners.

https://beta.companieshouse.gov.uk/company/06539484/filing-history

[oxo1947]

Could someone please remind me why the English FA requested that our hero relinquish his ownership of Man City?

Did they? I thought he sold up because he was strapped for ready cash and was offered £210 million by Sheikh Mansour for his £81.6 million investment.

NO Khun Han he couldn't stay in the country--- UK

Although his bail request was yet to be heard in London it was being widely reported that although the UK is a sanctuary for any political prisoner----they would not view him in this light.....but as a criminal & send him back to Thailand.......but yes although he did make a good profit out of selling Man City--- it was a matter of jumping before your pushed. He has never returned to the UK.

Request for asylum in the United Kingdom

Arrest warrant of Thaksin Shinawatra, issued by the Royal Thai Police on August 13, 2008, after his flight to London and failure to appear in court on August 11, 2008

[worgeordie]

Thaksin Shinawatra is poised to seek new funding that would value the company at more than $1bn as it prepares to rollout its infrastructure for the first time. one thing for sure he will be putting as little of his own money in as possible,but will be looking for big rewards.

regards Worgeordie

[Khun Han]

Could someone please remind me why the English FA requested that our hero relinquish his ownership of Man City?

Did they? I thought he sold up because he was strapped for ready cash and was offered £210 million by Sheikh Mansour for his £81.6 million investment.

NO Khun Han he couldn't stay in the country--- UK

Although his bail request was yet to be heard in London it was being widely reported that although the UK is a sanctuary for any political prisoner----they would not view him in this light.....but as a criminal & send him back to Thailand.......but yes although he did make a good profit out of selling Man City--- it was a matter of jumping before your pushed. He has never returned to the UK.

Request for asylum in the United Kingdom

Arrest warrant of Thaksin Shinawatra, issued by the Royal Thai Police on August 13, 2008, after his flight to London and failure to appear in court on August 11, 2008

Yes, I know about his residency being refused, but what has that to do with the FA? Residency isn't a requirement of ownership, is it? The FA has a very flimsy 'fit and proper' requirement which has failed it's purpose time and again. I recall some in football (quite rightly) voicing disquiet at Thaksin's purchase of MCFC. And his stewardship was, apparently, more broken promises than anything else. But I don't recall the FA stepping in, though my memory admittedly isn't perfect.

Edited June 12, 2016 by Khun Han

[alocacoc]

Such a great guy, never rest on its laurels.

[Wilsonandson]

Thaksin is currently worth 1.65 Billion USD. He has done a great deal of business in Singapore and the Scentrics deal with the government looks likely to make Thaksin even more richer. No wonder Yingluck was out at the weekend, smiling and getting her face in the headlines.

What I don't understand is why with all that money does Thaksin get involved in politics. He could be living in luxury in Thailand if he just let his obsession go.

http://www.forbes.com/profile/thaksin-shinawatra/

[Basil B]

Could someone please remind me why the English FA requested that our hero relinquish his ownership of Man City?

As I recall there was cash flow problems with the club and some dubious accounting, I think the FA questioned whether he was a "fit and proper person" to control a football club.